BENGALURU: Online travel search marketplace ixigo is raising $10 million in fresh equity funding from Sequoia Capital India, according to three sources familiar with the matter.The investment by Sequoia India, follows the recent big-ticket acquisition of another travel portal-Scotland-based Skyscanner-by China's Ctrip for $1.74 billion earlier this month. Sequoia's US arm was also an investor in Skyscanner ixigo is backed by investors including India's largest online travel agency (OTA) MakeMyTrip and smartphone maker Micromax , besides venture capital firm SAIF Partners . ixigo earns a commission on these bookings.Since 2007, ixigo has expanded from flights to hotels, trips, trains, buses and cabs where users can choose best options across multiple service providers. It has a separate mobile application for all of them.In August 2011, SAIF Partners and Make MyTrip picked up 76.6% in ixigo for $18.5 million, valuing the company at about $25 million. SAIF bought 56.7% while MakeMyTrip picked up 19.9% then.

Source: Economic Times November 29, 2016 03:53 UTC